Kodiak Oil & Gas (KOG) Hangs On to Gains Following CNBC Mention
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Kodiak Oil & Gas (NYSE: KOG) appears to be one of the most jittery stocks right now. Following a positive mention on some of its call options by CNBC just ahead of 1pm ET Friday, shares ripped about 2.2 percent to $8.74. Volume also spiked on the move.
CNBC contributor Jon Najarian said call buying was active on the stock ahead of its May 3rd earnings. He believes many investors may be bullish on the prospects for the Bakken Shale in North Dakota. Overall, contract volume at the 9 and 10 strikes is 1,391 and 228, respectively, far above front month volume.
Implied volatility on the stock appears to be gaining from the historical average, currently up about 48 percent to 70.6 percent.
On May 3rd, Kodak should report earnings of 14 cents per share on revenue of $112.14 million, compared with a loss of 4 cents per share and revs of $13.44 million reported last year.
Shares have since moved higher, now up 2.5 percent on the session.
CNBC contributor Jon Najarian said call buying was active on the stock ahead of its May 3rd earnings. He believes many investors may be bullish on the prospects for the Bakken Shale in North Dakota. Overall, contract volume at the 9 and 10 strikes is 1,391 and 228, respectively, far above front month volume.
Implied volatility on the stock appears to be gaining from the historical average, currently up about 48 percent to 70.6 percent.
On May 3rd, Kodak should report earnings of 14 cents per share on revenue of $112.14 million, compared with a loss of 4 cents per share and revs of $13.44 million reported last year.
Shares have since moved higher, now up 2.5 percent on the session.
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